Sensex, Midcap recover sharply from lows; ICICI, Axis, Tata Steel up 1-2%

The market recovered sharply from day’s low, led by private banks like ICICI Bank (up 2 percent) and Axis Bank (up 1.4 percent).

The 30-share BSE Sensex was down 264.33 points or 0.76 percent at 34,492.83 and the 50-share NSE Nifty fell 83 points or 0.78 percent to 10,583.50.

About five shares declined for every share rising on the BSE.

The 30-share BSE Sensex shed 1,274 points in opening, but showed some recovery in afternoon. The index fell 462.78 points or 1.33 percent to 34,294.38 and the Nifty slipped 136.70 points or 1.28 percent to 10,529.80.

Bajaj Finance, Eicher Motors and Bharti Airtel rebounded with more than 1 percent gains, followed by L&T, ICICI Bank, Tata Steel and Dr Reddy’s Labs with moderate gains.

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